Barry Paschal, doctorum spinorum, you are making us sick!
Talk about spin awards, Paschal should win the Nobel Prize for Spinning. He and Obama make a dynamic duo. In the Columbia County News (some) Times “Our Opinion” today, Paschal tells us how the county commissioners are listening to the people and only sending 5 people to New York to “refinance” some water and sewer bonds, compared to the 13 that went just last year. Last time they were looking to sell $60.7 million; this time they are only refinancing. Yes, Paschal, there is a difference. Commissioners do not listen to the people. They may hear some stuff…but as for listening, no. So Barry, hate to burst your bubble, they’re not listening, your reporting didn’t make them see the light. Nice try at spinning this for Ron Cross and the Commission.
Part of the $60.7 million the county got last year ($30.3 million) was to pay off two previously issued bonds that were issued in 1996 and 2000, and to pay off a portion of the bonds that were issued in 2004. All of a sudden we find more bonds that we can refinance? And our new “soon-to-be county administrator Scott Johnson says the total savings likely will exceed $1 million.” Here’s a suggestion: If the savings are to be $1 million, then document it and share it with the citizens of the county. When you start documenting and proving your exaggerated statements, we will start believing you.
We know of no one that does not favor the issuing of bonds for meeting the needs of the county. The magnitude of these needs, particularly infrastructure projects, is one of the reasons we have a government. We don’t believe it takes continuous bond orgies to get the job done.
What happens when bonds are refinanced? Fees are collected and a lot of money passes through a few hands. Call your commissioner and ask what the fees are and who is going to receive them. We bet you already know the answer. Our guess…Georgia Bank and Trust and Doug Batchelor. Keep in mind that it’s only a guess, but, we have reason for the guess.